10 Growth Marketing Strategies That Actually Work in 2024

by The MNTN Team

7 Min Read

A well-rounded growth marketing strategy can pave the way for ongoing revenue and long-term success. But it’s important to understand which growth marketing strategies are worth the time and effort, as well as which approaches are more likely to underwhelm.

It can be tough to pin down these answers, as there aren’t any one-size-fits-all solutions. Your business will likely need to use a mix of tactics to achieve sustainable results. But the good news is that there is no shortage of options when it comes to growth marketing strategies.

With that in mind, here are 10 strategies that you can weave into your growth marketing plan today:

1. Data-Driven Personalization

Younger generations, namely Millennials and Gen Z, make up a major chunk of most consumer bases these days, overtaking baby boomers and Gen X. Therefore, it’s vital that you adapt your growth marketing strategy to align with the preferences of these younger audiences. That means personalizing your content and messaging in a way that resonates with them.

According to Statista, 81% of Gen Z consumers like personalized ads. And 57% of millennials feel the same way. A little over half of Gen X prefers customized advertising content, while just 42% of baby boomers like it when messaging is tailored to them.

What does this all mean for you? You’ll need to make sure you are gathering, analyzing, and applying customer data to make your content more personalized. From there, segment your audience based on their behavior and preferences.

2. Content Marketing With Storytelling

Generally speaking, audiences love receiving free educational, informative, and entertaining content. However, if you want to differentiate your content marketing assets, you’ll need to weave in some expert storytelling.

Craft compelling narratives around your brand and position your products or services as the hero in the story. Don’t limit yourself to written content, either. Incorporate video marketing, podcasts, images, and other assets to make your materials more engaging and insightful.

Just be careful not to get too sales-y. Focus on producing great content that aligns with the audience’s search intent while ensuring that your brand voice and values are present throughout the story.

3. Search Engine Optimization (SEO)

SEO remains a foundational part of any viable growth marketing plan. A well-executed SEO strategy can make your brand more visible and drive valuable organic traffic to your website.

However, with search engines constantly updating their algorithms, SEO also demands you stay on your toes and commit to continuous improvement. If you aren’t sure where to begin, go back to the basics. Revisit the fundamentals, like conducting keyword research, optimizing on-page elements, and ensuring your site is responsive.

Winning at SEO can provide a wide range of benefits, including higher search rankings and more consistent site traffic. Users will also enjoy spending more time on your site if the content and experience have been sufficiently optimized.

4. Influencer Marketing

Today’s consumers place a ton of trust in influencers. In fact, according to some estimates, roughly 69% of consumers trust the recommendations of influencers they follow. Such a trend indicates that social media personalities can be a great addition to your growth marketing plan.

Focus on connecting with influencers whose audience mirrors your own. While you want to reach new prospects, you also need to get your brand in front of people who would actually use your products. That’s where alignment with your influencer partners becomes invaluable.

Don’t feel as though you’ve got to partner with the biggest influencers out there. A few strategic partners with 10,000+ followers can make some significant contributions to your growth marketing strategy.

Running ads on Google remains a top option for increasing brand recognition and generating buzz about your products. However, pay-per-click (PPC) ads can be quite costly. Social media advertising represents a more cost-effective alternative that also allows you to connect with consumers naturally.

Integrating social ads into your campaigns can increase your following on popular platforms, raise brand awareness, and help you form strong relationships with potential customers. As you do so, remember to embrace the underlying goal of growth marketing, which is to create holistic campaigns that produce long-term results. Don’t keep your social ads in a vacuum; instead, integrate your social media content with your organic posts and other marketing channels.

6. Conversion Rate Optimization (CRO)

Conversion rate optimization focuses on improving the percentage of website visitors who take a desired action, such as making a purchase or signing up for a newsletter. By optimizing your site for conversions, you can maximize the value of your existing traffic.

Start by analyzing user behavior on your website to identify bottlenecks. For instance, if a particular landing page has an abnormally high bounce rate, there’s a good chance conversions are being blocked by some kind of barrier you’ll need to remove.

From there, gather user feedback to refine your website’s design and functionality. By rethinking your approach to conversions, you can increase sales and lead generation. You’ll also create a better user experience and ensure higher satisfaction.

7. Email Marketing Optimization

Email remains one of the most cost-effective and impactful growth marketing channels for nurturing leads and driving conversions. As such, optimizing your email campaigns can lead to higher open rates, click-through rates (CTRs), and ultimately, more sales.

You can start optimizing your email campaigns by segmenting your email list. Past customers shouldn’t be receiving the same content as leads who’ve only recently become aware of your brand.

Once you’ve grouped recipients based on their preferences, needs, and stage of the decision-making journey, you can create tailored content that resonates with each segment. Continually test different subject lines, send times, and formats to gain a better understanding of the interests and preferences of your customers.

8. Referral and Loyalty Programs

Referral and loyalty programs tap into the power of word-of-mouth mentions to drive repeat business. These frameworks incentivize existing customers to become brand ambassadors for your business.

There are numerous ways to structure your reward program. You can adopt a point-based system that gamifies purchases and encourages people to spend more. Alternatively, you can try a program that gives customers coupons or discounts every time they successfully refer someone to your business. Altogether, a properly structured rewards program can offer substantial benefits, including enhanced customer loyalty and increased retention.

9. Video Marketing

Video content can be some of the most engaging and shareable marketing assets in your arsenal. Integrating video content into your growth marketing strategy can boost engagement and help you reach a broader audience. If your video happens to go viral, it could rack up tens of thousands of views (or more).

Video marketing is an opportunity to harness storytelling to create visually compelling content that resonates with your audience. It’s also the most shared type of content online, so be sure to take advantage of it.

10. Account-Based Marketing (ABM)

Account-based marketing is a growth marketing strategy reserved for business-to-business (B2B) brands. Under such a model, you’ll group your accounts into tiers based on their potential value. You’ll then prioritize the highest-value accounts with your marketing resources. Once you’ve exhausted that category, you’ll shift your attention to the next tier, and so on.

An ABM model allows you to develop personalized marketing campaigns for each account while also maximizing your return on investment (ROI). Since you’ll be focusing on a smaller number of accounts, your sales and marketing teams will be able to maintain cohesiveness across all channels.

Bonus: MNTN Performance TV

Not all types of connected television (CTV) platforms are suitable for your growth marketing strategy. But MNTN Performance TV isn’t your average CTV platform. With MNTN, you can set custom performance goals that bolster your bottom line and help you achieve long-term growth milestones.

Most importantly, MNTN features real-time measurement capabilities, allowing you to track the impact of every ad and campaign. You can measure incremental growth and a variety of other marketing metrics, thereby obtaining a holistic view of your campaign efficiency.

CTV advertising with MNTN also gives marketers access to premium Connected TV inventory, and with it, a chance to display commercials on platforms and alongside content that match your audience’s interests and preferences. The result is more precise targeting and engaging content that promotes sustainable growth.

Growth Marketing Strategy: Final Thoughts

Winning at growth marketing in 2024 requires a multifaceted approach that leverages data, personalization, and innovative new channels like MNTN Performance TV. By integrating these growth marketing strategies into your game plan, you can drive sustained growth, enhance customer engagement, and achieve your long-term revenue goals.